Independent sells Lusomundo stake for €24m

INDEPENDENT News & Media yesterday sold its 19% stake in Portuguese media group Lusomundo for €24 million.

Tue, 14 Oct, 2003 - 01:00

Ian Guider

The sale forms part of a €300 million programme to reduce the company’s massive debt mountain. Earlier this year, Independent launched a €100m rights issue and announced plans to sell its regional newspaper business, Newsquest, in Britain.

The sale of Newsquest is awaiting approval from Britain’s Competition Commission and a positive decision is expected soon.

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Place: Britain Place: Lisbon Place: Portugal Place: Abbey Street Person: Donal Buggy Person: Eason Organisation: Independent Organisation: Lusomundo Organisation: Newsquest Organisation: Competition Commission Organisation: Cofina Group Organisation: GQ Portugal Organisation: Lusomondo Media Organisation: Arnotts

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Independent sells Lusomundo stake for €24m

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